FOMC Effect on Forex Market

by Vahid | Forex Market Analysis and Signals | Wednesday, January 30th, 2008

4:00pm GMT

Fundamentals: 2:15 PM - FOMC Policy Statement. FOMC is an important news so be careful.

In the daily chart, the price is still fighting with the 23.60% level as a resistance. Yesterday’s candlestick just touched this level and then went down without any success. Today candlestick is trying harder and has been able to break the yesterday high price. So it is possible that Bulls take the full control today and the price goes up.

The 4hrs shows that last night the price has retested the Bollinger Middle band and then bounced up. Now it is right under the 38.20% level which has been acting as a strong resistance and kicked the price down on 25th January. It is retesting this resistance. If it can break this resistance and goes higher than 214.04, it will go higher. I will tell you up to where.

4:31pm GMT

The one hour chart is showing a sell signal. It has broken up the symmetrical triangle and now is retesting it.

If it can not break it down the triangle and goes up, It should go up and test the 161.80% level (214.03).

5:45pm GMT

The sell signal in one hour is confirmed by 15min. The price has broken down a symmetrical triangle.

8:42pm GMT

hmmmmm! Although it went up because of the FOMC press release but now it moving toward the same target (212.32). It triggered my stop loss when it went up but I went short again at 213.17 when it showed a good sell signal on 15min chart.

8:55pm GMT

Wowwwwwwwwwwwwwwwww!

Keep the short to maximize the profit. This is the storm that I talked about it last night.

9:01pm GMT

I am out. It is right above the 61.80% level which is the most important Fibonacci level. It should go up now. Even if it doesn’t go up and keep on going down 140 pips is a good profit for an intraday trade.

10:34pm GMT

Ok It went much lower than that. I updated the Fibonacci levels on the 15min chart. It seems the current 161.80% level (210.70) is the destination of the current down trend BUT if this level becomes broken also, it will go lower maybe down to 261.80% level (208.86).

11:33pm GMT

It is stopped by 161.80% level.



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6 Comments:
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Comment by Lou
2008-01-30 09:56:22

I appreciate your work and value your philosophy of sharing. The GBP/JPY intra day is a nice addition! Thanks

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Comment by UFO
2008-01-30 12:30:09

Good job my friend

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Comment by Ateeq
2008-01-30 15:24:28

hi vahid

thanks for your report, did make 30pips. looking forward of your tonights report. might be interesting one.
thanks
ateeq

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Comment by ibrahim
2008-01-30 20:45:03

Malamu(Teacher), Vahid

Thank you very much for your help teaching us currency trading. I am new student and not very skilled at the trading process, but yet I was interested in trade from a few monthes ago. I started demo trading and losted all $10,000 fund from brokage, but still requested for more fund.With hard work I hadn’t found a winning strategy and the way of the trading currency. So I recognized that the trading buisness wasn’t right for me, The first day I read the teaching reports, I was inspired and to start as soon as possible. As we say in our language, you are very good Malamu (teacher). In our culture Malimu(Teacher) is respected as if it was my own parent. What they will teach you will be benfited for the rest of their life, and God will reward him in this world and here after. Your good intention to help people will pay in the future much more than money.

I would to request you a teaching report on the triangle symmetric, and other indicators your using in your analysis in order to make it easy for people to follow and understand.

In the future I would like to suggest that all of vahid’s students meet together to exchange their knowledge on your teaching strategies. By this I mean that to hold meeting with the students in their local area, so to benefited from each other. I reccomend this because I beleive that ” Knowlede is in between the students”.

Thanks again.

Ibrahim.
Student

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Comment by Dan
2008-08-23 13:41:02

Very cool design! Useful information. Go on!F

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Comment by jammarlibre
2008-08-27 11:54:57

Hi! Definitely nice and neat site you got there.e

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